Medical & Bio health Industry Online Biz-Meeting [Sept 1- Oct 31]

For the 60th anniversary of diplomatic relations between South Korea and the Netherlands, KOTRA (Korea Trade-Investment Promotion Agency) and the Embassy of the Republic of Korea to the Kingdom of The Netherlands organise the Online B2B Meeting Event in the Medical & Bio Health industry

An overview of South Korea's Medical & Bio Health Industry

Korea is currently one of the leading countries amongst OECD members. Korea is known for its long life expectancy and the rapid growth of an aging population.

Korea accounts for two thirds of the global biosimilar market and ranks number one in the global ultrasound diagnostics market. Korea operates with advanced infrastructures, for example in ICT, employ highly skilled personnel in both the medical and pharma sector, and are able to establish world class hospitals with data driven technologies. This leads Korea to be the 12th biggest player in terms of market size in the global bio-health industry (pharma, medical devices, cosmetics, dental equipment, lab instruments, software, and more).

The Korean pharmaceutical industry is rapidly becoming a manufacturing hub due to its advancement in biosimilar manufacturing skills. It is currently the 3rd largest pharma region in Asia. Korea's bio health industry reached a new milestone in outbound shipments with a 50% jump in comparison to last year. This was led by the robust demand for Covid-19 test kits and biosimilar products in both Europe and the United States. Korea's pharmaceutical exports totaled $14.1 billion in 2020, up by 54.4% from 2019.

The sector's main growth driver can be assigned to Covid-19 test kits. This was due to an incredible demand for testkits amidst a global surge of Covid-19 infections. Exports of test kits hovered at a mere $3,000 before January 2020. The figure sharply increased to $200 million in April, and continued to rise to $546 million by the end of November.

The growth of the Korean bio similar market can be considered a remarkable feat as well. Korea's market share continued to rise in both Europe and the United States - helping Korea's medical related exports to reach over $7.3 billion last year, up by 76.9% from the year before. Exports of ventilators and other medical devices accumulated to roughly $4 billion, contributing to the sector's growth as well.

If you wish to participate, please fill out the application form (at the bottom of this page) and submit it.

What to expect?

Korean manufacturers and technology companies in the sector of medical & bio health industry will be represented in this online B2B meeting. They will cover:

• Medical Equipment & Medical Supplies
• Dental Equipment
• Examination & Testing Instrument
• Health & Wellness
• Pharmaceuticals
• Beauty Equipment
• Medical Computer Hardware & Software

Korean companies

The Korean participants you can cooperate with can be found by clicking the link below:

• https://www.buykorea.org/onlineshowcase/2021medicalkorea

Upon request, we will provide you with a list of Korean participants in an excel file.

Cost : FREE

• For any questions or additional information please contact: Lanee An <lanee@koreatradecenter.nl>